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50 million barrels to sell to China; Ecuador has 8 current contracts- Ecuador Times

Date: Jun 16, 2020

The new long-term sale of crude oil analyzed by the public company Petroecuador , to obtain financing from China, would compromise the delivery of around 50 million barrels of oil over five years, as reported on Friday, June 12, 2020, a source close to This process.

Petroecuador , however, mentioned that the matter is still under analysis in the company’s Board of Directors.

This operation is part of the new agreement Ecuador is seeking with Chinese banks to access new financing, the finance ministry reported last month.

On average, between June and October next, the country expects to get USD 2.4 billion through this channel.

To read the full article on Ecuador Times, click here.